IFLYASA
Well-known member
- Joined
- Nov 27, 2001
- Posts
- 545
ASA has been sold??
"It has been confirmed by the President's Office at Atlantic Southeast Airlines and the Chairman's Office of DALG in Atlanta, Georgia that ASA has been sold to a third party. The official press release will be made public at a press conference NLT April 6th. Further, the General Office source confirmed the President's comments that ASA will be flying under the Virgin Airways brand for the new "Virgin America" airline. This action is not entirely unexpected by business analysts as much speculation has been given to this action since Frederick Reid's appointment as President of Virgin America Airlines in March 2004. Mr. Reid is the former President and COO of Delta Air Lines and as such oversaw the acquisition of both ASA and Comair by DALG in the late 1990's. This transaction will provide much needed cash immediately to DALG which is in dire need of liquid assets prior to the close of Q2 2005. Further, it will enable DALG to concentrate assets on the much anticipated enhancement of both its Delta Air Lines' low-cost evolution and Song expansions."
"It has been confirmed by the President's Office at Atlantic Southeast Airlines and the Chairman's Office of DALG in Atlanta, Georgia that ASA has been sold to a third party. The official press release will be made public at a press conference NLT April 6th. Further, the General Office source confirmed the President's comments that ASA will be flying under the Virgin Airways brand for the new "Virgin America" airline. This action is not entirely unexpected by business analysts as much speculation has been given to this action since Frederick Reid's appointment as President of Virgin America Airlines in March 2004. Mr. Reid is the former President and COO of Delta Air Lines and as such oversaw the acquisition of both ASA and Comair by DALG in the late 1990's. This transaction will provide much needed cash immediately to DALG which is in dire need of liquid assets prior to the close of Q2 2005. Further, it will enable DALG to concentrate assets on the much anticipated enhancement of both its Delta Air Lines' low-cost evolution and Song expansions."
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